Bank of America Increases Lennar (NYSE:LEN) Price Target to $190.00

Lennar (NYSE:LEN) had its price objective upped by equities researchers at Bank of America from $171.00 to $190.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the construction company’s stock. Bank of America‘s price target suggests a potential downside of 1.06% from the stock’s previous close.

A number of other research analysts have also recently commented on the company. BTIG Research reduced their price objective on Lennar from $177.00 to $175.00 and set a “buy” rating on the stock in a research note on Thursday, June 20th. Citigroup restated a “neutral” rating and issued a $164.00 target price (down from $174.00) on shares of Lennar in a research note on Tuesday, July 2nd. Wells Fargo & Company upped their price target on Lennar from $195.00 to $205.00 and gave the company an “overweight” rating in a report on Monday, September 9th. Evercore ISI boosted their target price on shares of Lennar from $237.00 to $240.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Finally, Raymond James cut shares of Lennar from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 2nd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $173.71.

Lennar Stock Performance

Lennar stock traded up $3.61 during mid-day trading on Thursday, reaching $192.04. 766,512 shares of the company were exchanged, compared to its average volume of 2,055,485. Lennar has a twelve month low of $102.90 and a twelve month high of $192.50. The firm’s 50-day simple moving average is $175.35 and its two-hundred day simple moving average is $163.60. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.91 and a current ratio of 4.93. The firm has a market cap of $52.73 billion, a PE ratio of 13.04, a price-to-earnings-growth ratio of 1.61 and a beta of 1.61.

Lennar (NYSE:LEN) last released its quarterly earnings data on Monday, June 17th. The construction company reported $3.38 earnings per share for the quarter, beating the consensus estimate of $3.20 by $0.18. Lennar had a return on equity of 15.93% and a net margin of 11.58%. The firm had revenue of $8.77 billion during the quarter, compared to the consensus estimate of $8.57 billion. Equities analysts predict that Lennar will post 14.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Gilbert & Cook Inc. grew its position in Lennar by 5.5% during the 4th quarter. Gilbert & Cook Inc. now owns 4,053 shares of the construction company’s stock valued at $604,000 after purchasing an additional 211 shares during the last quarter. Gladstone Institutional Advisory LLC purchased a new stake in Lennar during the 4th quarter valued at approximately $218,000. Clearbridge Investments LLC grew its holdings in Lennar by 9.1% during the 4th quarter. Clearbridge Investments LLC now owns 31,158 shares of the construction company’s stock valued at $4,644,000 after buying an additional 2,595 shares in the last quarter. Dai ichi Life Insurance Company Ltd grew its holdings in shares of Lennar by 27.8% in the fourth quarter. Dai ichi Life Insurance Company Ltd now owns 23,010 shares of the construction company’s stock valued at $3,429,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in Lennar by 53.7% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 33,925 shares of the construction company’s stock worth $5,056,000 after buying an additional 11,851 shares during the period. 81.10% of the stock is currently owned by institutional investors.

Lennar Company Profile

Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. It operates through Homebuilding East, Homebuilding Central, Homebuilding Texas, Homebuilding West, Financial Services, Multifamily, and Lennar Other segments. The company's homebuilding operations include the construction and sale of single-family attached and detached homes, as well as the purchase, development, and sale of residential land; and development, construction, and management of multifamily rental properties.